A rare property find in Fresnaye

A vast and superbly-located 3570m² Upper Fresnaye, Cape Town property – extending over four erven, with two established homes – is on sale by tender through Pam Golding Properties. Interested buyers have the opportunity to bid for the erven separately or together, by the 25 February deadline next year.

The main house, built in the 1950s and ideally situated on the expansive property, lends itself to extension and modernisation for contemporary needs. The second house, a charming heritage three-bedroom stone home (renovated from the original stables) features a large verandah with glorious views over the Atlantic seaboard.

The two homes are each settled on a 1190m² plot, while extensive level gardens and rolling lawns extend over two vacant erven (each 595m²).

“This property has been enjoyed by one family for three generations,” say Jackie Rosenberg and Janice Toay, Pam Golding Properties area specialists for Fresnaye and Bantry Bay. “The most compelling features include the location, high up in this premier residential neighbourhood below Lion’s Head, with incredible views stretching out to Robben Island. This is a rare opportunity to acquire such an extensive property, in a sought-after location, to create your own story.”

Providing context, Rosenberg and Toay say that a property with a small house for redevelopment, on an erf size less than a third of the size (1052m²) sold for R25m in Avenue Bartholomew. Transactions of vacant Fresnaye land span 1432m² for R30m in Head Road; 1911m² for R29m in Arcadia Close; 818m² for R26m in Arcadia Road; and 582m² in Head Road for R19,5m.

“This property is also larger than two other comparative historical Fresnaye estates – it’s 3570m² compared with 3247m² and 2051 m² respectively. It is made even more special by its private location in a cul-de-sac bounded by Avenue St Louis, Avenue Protea and Avenue Coeur de Lion.”

According to Propstats, 28 freehold properties have sold in Fresnaye this year, with demand outstripping supply. Buyers are drawn by the north-facing position, which provides shelter from the south-easter, as well as magnificent sunset views.

This prestigious family neighbourhood is also a quick commute from Cape Town’s business and financial districts and the internationally-renowned V & A Waterfront with its shops, restaurants and entertainment such as boat and helicopter trips.

Outdoor enthusiasts can indulge in hiking on Lion’s Head, paragliding and exploring nearby mountain cycling trails, while the Queens, Saunders and Sunset beaches are ideal for sundowner picnics and relaxing.

Given the hand they were dealt, government has performed a delicate balancing act which it is hoped will serve to reignite confidence in investment in South Africa, regain our global credibility and satisfy the credit ratings agencies, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

These days most buyers are using online property portals like Private Property when house hunting due to the convenience, up to date information and variety on offer. “The property portals have revolutionised the way buyers shop, but they do need to be cautious – viewing photos online is no replacement for viewing the property in person,” says Bruce Swain, CEO of Leapfrog Property Group.

Owning a home is a milestone that most South Africans aspire to. Becoming a homeowner is a step towards growing personal wealth and owning an asset that appreciates in value over time, provided of course that the correct principles are applied during the buying stage of the process, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.

The suburb of Greenstone in Johannesburg east came to be over the last two decades. “In the beginning, it was literally just a hill with not so much as a shopping centre,” says Michael Levy, Property Consultant at Jawitz Properties Bedfordview. Today it has plenty shopping facilities and is fully built, boasting high-density, upmarket housing and residential estates, though still has a few pockets poised for commercial development.

Possibly one of the biggest sources of contention between landlords and tenants surrounds the rental deposit. “Most tenants rely on getting their rental deposits back when moving, so that they can use it to pay a deposit on their new home. Having it withheld or even having large amounts deducted can lead to a lot of distress,” explains Bruce Swain, CEO of Leapfrog Property Group.